When Mandy Desmond-Jones became the sole owner of her bookkeeping and payroll services company in November 2015 following a business partnership of four years, the Newport based company has flourished and exceeded the growth targets set in her original business plan.
Following this continued success, and to achieve the next stage of business growth, Mandy rebranded her company to MDJ Accountancy Solutions Ltd with an upgraded and updated modern website that enhances and promotes both the range of services provided and the accounting software packages used.
The company are now partnered with the new cloud based Xero Accounting System that provides ‘24/7’ numbers along with being members of Sage 50 Accountancy Club.
Mandy Desmond-Jones said: “Our early primary focus was to provide bookkeeping and payroll services for start-up businesses, sole traders and small Limited companies. Our client base quickly grew and clients started to refer us to their own contacts.
“It quickly became apparent that we could provide additional services that would be of value and benefit to both our existing clients and to any new referred clients. We are now able to provide this.”
Credit control, cashflow forecasting and the preparation of management accounts are good examples of the opportunities Mandy wanted to offer.
She said: “Businesses with great products and services can sometimes fail due to the owner being so engrossed in securing new business, planning current workload and personnel, the company operational finances are not managed efficiently and effectively. This can lead to cash flow issues and potentially non-compliance with HMRC, resulting in potential hefty penalties for non-submission and payment of taxes.
“Our comprehensive new range of accounting packages have been designed to provide our target market with the appropriate level of support for them and help them focus on running their business with the peace of mind that the financial aspects are being taken care of and compliant with HMRC.”
MDJ Accountancy also believes there is a gap in the market of providing smaller companies an interim service, offering an all-round bespoke outsourced ‘financial controller’ role, particularly where businesses are growing but yet to be in a position to employ their own accounts department – offering cost savings on overhead. This is a service we are being asked to provide more frequently.